Most GCC bourses witnessed a positive performance on Tuesday, backed by purchases of banks stocks by foreign and institutional investors.

Yellen will deliver on Wednesday and Thursday a testimony before Congress on monetary policy, and projected interest rate hikes.

Most Gulf currencies are pegged to the US dollar and any monetary policy change in the US is usually mimicked by Saudi Arabia, the UAE, and other neighbouring countries, financial expert Mohammed Al Shammari said.

Volatility of global stocks will push investors to be more cautious, leading speculators to increase their positions in low-priced stocks, Al Shammari added.